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Banks & Home builders lost nearly 80% in value at the 2009 lows. Dr Ben has doing a variety of “operations” to get these sectors back to health. Both Banks and Home builders faced the 38% Fibonacci retracement level of late, a key resistance recovery line that both have pushed above in the past couple of weeks, a positive technical development.
These leading sectors face two big tests in the upcoming weeks. Can they stay above the new 38% support level and can Dr Ben nurse them back to health, by reaching the half way point, the 50% Fibonacci level of the 2007-2009 Financial crisis declines?
Dr Ben is doing his best tricks in the operating room to nurse these sectors back to health. Can he push them 10%+ higher in the upcoming weeks? Stay tuned and keep a close eye on them!